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Tax Treatment of International Payments - Webinar

  • ID: 4327527
  • Webinar
  • Region: Global
  • 90 Minutes
  • Lorman Business Center, Inc.
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Don't get trapped in the maze of cross border tax reporting and withholding regulations. Learn the ins and outs of international payment rules, regulations, and current issues.

International tax law, once the purview of large international corporations, now affects all organizations both large and small. In todays global economy, most organizations are involved with international transactions.- Payments to foreign supplies, foreign service providers, foreign consultants, foreign internet services, foreign lenders and foreign investors are all subject to complex rules related to withholding on and reporting of such payments. These rules apply both to for profit and not for profit organizations.

In this topic, we will explore the world of withholding and reporting on international payments. This includes Chapter 3 source withholding which is designed to collect U.S. taxes on income earned in the United States by foreign entities and Chapter 4 FATCA withholding which is designed to encourage compliance with foreign transaction and account reporting. We will cover the basic withholding and reporting requirements of each Chapter as well as exploring practical issues regarding compliance.- The course is designed for financial, legal and business professionals that are responsible for their organizations compliance with withholding and reporting and those professionals that advise them. Upon completions of this material, you should have a better understanding of the common types of transactions that require withholding or reporting and the types of things you need to lookout for to avoid costly penalties.

Learning Objectives
  • You will be able to recognize the differences between the Chapter 3 source withholding rules and the Chapter 4 FATCA rules.
  • You will be able to identify which payments are subject to withholding and reporting requirements.
  • You will be able to describe how to apply withholding on a foreign partners share of partnership income.
  • You will be able to discuss the general impact of FATCA on nonfinancial institutions.
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Introduction to Withholding on International Payments
  • Objective of U.S. Withholding Rules
  • Types of Withholding on International Payments: Understanding the Differences Between Chapter 3 (Source Withholding) and Chapter 4 (FATCA) Rules
Chapter 3: Source Withholding
  • Overview of U.S. Taxation of Non-U.S. Persons
  • Income Subject to Withholding
  • Persons Required to Withhold
  • The Impact of Income Tax Treaties
  • Understanding Withholding Certificates (the W-8 Series)
  • Withholding on a Foreign Partner's Share of Partnership Income
  • Withholding on Real Property Transactions
  • Compliance Issues
Chapter 4: FATCA
  • Overview of the Purpose and Scope of FATCA
  • Who Is a Withholding Agent?
  • What Is a Withholdable Payment?
  • Understanding FATCA Status and Form W-8BEN-E
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Daniel Cassidy, CPA Clark Nuber PS
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This webinar is designed for accountants, auditors, tax managers and preparers, CFOs, controllers, business owners and managers, presidents, vice presidents, CEOs, risk managers, bookkeepers, accounts payable professionals, importers, exporters, complianc
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